We are a New York City-based company incorporated in October 2009 in the
Marshall Islands to conduct a shipping business focused on the drybulk industry
spot market. We were formed by Genco Shipping & Trading Limited ("Genco"), an
international drybulk shipping company that also serves as our Manager. Our
fleet currently consists of four Capesize vessels, two Ultramax vessels, four
Supramax vessels and five Handysize vessels with an aggregate carrying capacity
of approximately 1,221,000 deadweight tons ("dwt"). The average age of our
current fleet is approximately 4.3 years, as compared to the average age for the
world fleet of approximately nine years for the drybulk shipping segments in
which we compete.